Nomura (NMR) mulls slashing expenses by up to $1B as part of a plan to refocus the bank on its...

Nomura (NMR) mulls slashing expenses by up to $1B as part of a plan to refocus the bank on its profitable businesses in the U.S., and Asia at the expense of its loss-making EU ops. The cuts would represent a reversal of Nomura's expansionist drive during the financial crisis, when it bought Lehman assets.